How Much Do You Pay for Your Parking Stall in Honolulu?
When space is limited, kama‘āina get creative.
Photo: Rachel Ross
There’s a garage in Kaimukī that always makes us smile. It’s almost like a dog waiting for you at the gate. It doesn’t look like it’s used regularly, but, on that busy little street, the owners clearly needed a place to store their van and got creative on how to fit it into a garage that was built long before mini-vans were a thing.
Condo parking is quirky. In urban Honolulu, it can greatly affect a property’s value. There’s currently an oceanfront one-bedroom apartment on Waikīkī’s Gold Coast listed at $575,000. Why so cheap? Likely because there’s no parking. There are 10 other one-bedrooms on the market on that coveted little stretch of land, all with parking spaces, and they range in price from $1.1 million to $2.9 million. To some, it is clearly worth half a million or more dollars to avoid feeding meters or walking across Kapi‘olani Park each time you come and go.
Ever notice that the stall numbers rarely align with the unit number? Even if it were possible, it’s a safety thing. There’s been at least one instance of a violent crime in Honolulu in which the assailant could tell where their victim lived by her stall number.
Parking doesn’t just affect pricing, it’s a real estate market all its own. It can be deeded separately, and is often rented out and sometimes even sold. On craigslist.org, there are two uncovered spaces available for rent at Mawaena Kai in Hawai‘i Kai for $50 per month. In town, at Moana Pacific, they’re advertised for $130 per month and at Pacifica, $150 per month. For $6,000, you can buy a stall in a gated condominium in Mākaha, and for $50,000, you can get a covered spot at Imperial Plaza.
Look closely at your title insurance policy, and you’ll see your deeded stall is likely not included in your policy. Title companies shy away from insuring parking because there have been so many issues. Elizabeth Worrall Daily, an agent with more than 30 years of experience, said that parking leads to litigation frequently in condominium transactions. Problems arise when somewhere along the way, someone traded spaces with a neighbor via a friendly verbal agreement, then forgot to mention it when selling and spaces get confused over the course of a few new owners.
When asked how to avoid running into disputes over spaces, Worrall Daily says to be safe, make sure your representative goes all the way to the project documents to confirm the parking stall originally assigned to your unit is the one the seller’s agent shows you. Have the resident manager, if there is one, confirm the location of your parking stall as well. It could save you a lot of hassle in the long run.